Investment Consultant Services

The City of San Diego, California, is seeking investment consultant services for its city employees' 401(k), 401(a), and supplemental pension savings plans. The agency requires a partner to assess investment fund performance against benchmarks and provide written quarterly reports to the board, covering general economic conditions and forecasts of capital markets, interest rates, inflation, and asset class risks and returns. The selected partner will also review the board's established statement of general investment policies and guidelines, recommend revisions, and prepare watch list procedures for underperforming investment funds. The scope of work covers reviewing the appropriate asset allocation and structure of the plan funds, and suggesting changes to ensure diversified investment portfolio options. The agency needs advice on the selection and retention of investment managers, which includes conducting manager searches, helping negotiate engagement terms, providing written guidelines to managers, and conducting ongoing due diligence. Additionally, the agency requires investment education for the board regarding latest investment trends and regulatory updates, as well as assistance with a record-keeper search from drafting the RFP to facilitating finalist interviews. Bidders must perform all work onsite and must be located within the United States. The agency has not disclosed a specific budget and is looking for proposals to define the cost. The contract period will span one year. All questions regarding this opportunity must be submitted no later than June 19, 2026.